Overwhelming Debt

You are in insurmountable debt. How can you tell? Because your creditors remind you of it on a daily basis. If you are in over your head in credit card bills, medical bills or any other kind of loans that have become difficult for you to repay, then the company you owe is likely calling you incessantly, sending you mail and, basically, harassing you.

Fortunately, when you file for bankruptcy, these kinds of behaviors are immediately put to a halt. All communication from the creditors who are contacting you must go through your attorney, and at the law offices of Andersen, Ellis & Shephard (formerly David Andersen & Associates, P.C.), we bear that burden confidently. As Grand Rapids creditor harassment attorneys, we can help you remain informed of the bankruptcy process and advise you on what decisions are right for you, your family and your long-term financial well-being.

Debt Relief Information

We are a debt relief agency helping people file for bankruptcy relief under the Bankruptcy Code. If you need relief from debt, the best thing you can do is contact us as soon as possible in order to set up an appointment. Evening appointments are available. We normally recommend that you come in as soon as possible so that your rights can be secured without delay. Many people postpone or put off consultation with a qualified specialist only to make major blunders such as borrowing more money to pay off debts. It is best to have the free consultation instead of waiting to see us as a last resort. When you come to see us, we look at your budget (income and expenses) and analyze the debts involved and advise what course of action to take.

 

At the law offices of Andersen, Ellis & Shephard, we have represented thousands of individuals in consumer bankruptcy filings.

616.784.1700

 

Chapter 13 works well for employed persons who can make some type of payment. Chapter 7 is also available for cases where a payment plan is not feasible or appropriate. We will recommend the best action for your case.

With Chapter 13, the payment plan is usually a LOT LESS than what one is paying without the help Chapter 13 offers! We can usually consolidate all debts at a payment that is affordable, and nothing will be lost or given up. The home, car and belongings are protected by the filing of Chapter 13. Also there is automatic protection from creditors upon filing. This means that harassment stops, no one can garnish wages, take property, repossess the car or truck, foreclose on the home, etc. But one needs to file a case in order to get the automatic protection.

On completion of the Chapter 13 plan debts are wiped out, paid, discharged, etc. Chapter 13 can usually pay off debts much more quickly because in most cases the interest and penalties are stopped on your charge and loan accounts. Payment amounts are generally reduced. When you visit us, we can explain how it applies to you, but the relief usually is very dramatic.

The payment is set based on your budget….your ability to pay. That is why we need to go over your income and expenses in detail. Our office is unique in that we have a computer program which calculates your budget of income and expenses while you watch it on the monitor. You can see the income and expenses broken down as we type it in, and see just where your money goes each month. This enables us to calculate how much you can afford to pay toward your debts very quickly, while you watch us. You just need to know how much you make in a typical week, and how much you spend on house payments, rent, utilities, insurance, groceries, gasoline, etc. House payments and rent are generally not included in the chapter 13 plan unless you are behind. If your mortgage is past due, a chapter 13 can help catch it up and stop a foreclosure from occurring if the case is filed on time. Car payments are usually included in the chapter 13 plan and the car is paid off as part of the plan. Generally, no one can repossess or seize your car or other property once your chapter 13 is filed. Your wages, earnings, bank accounts, and personal property are protected by the Chapter 13 “automatic stay” against creditors.

Chapter 7 is “straight bankruptcy” and discharges most debts without making payments and is appropriate when you cannot afford a payment plan under Chapter 13 or when your circumstances do not warrant a payment plan. The relief under Chapter 7 is very dramatic since the debtor receives an “automatic stay” against creditors.

There is no payment plan under Chapter 7 bankruptcy. Most debts are discharged. We can discuss which chapter is best for you.